| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7136 |
| DP7136 The Impact of the Droit de Suite in the UK: An Empirical Analysis | |
| Kathryn Graddy; Chanont Banternghansa | |
| 发表日期 | 2009-01-23 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | This paper examines whether the export decision of firms is affected by their ownership structure, specifically it looks at whether family control is an obstacle to entering foreign markets. The underlying assumption is that family firms are risk averse. Risk aversion may be an obstacle to entering foreign markets, as far as these are perceived as more volatile and risky than the domestic one, particularly when such choice entices bearing relatively high sunk costs. We develop an illustrative theoretical model that shows how the combination between high risk aversion and low initial productivity may hinder family firms? decision to enter foreign markets, particularly distant ones. The empirical analysis, based on a detailed panel data set of Italian firms covering the years from 1995 to 2003, confirms such predictions by showing that family controlled firms do indeed export less than other type of companies even after controlling for firm heterogeneity in productivity, size, technology and access to credit. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Firm structure Foreign markets Family firms Exports |
| URL | https://cepr.org/publications/dp7136 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535973 |
| 推荐引用方式 GB/T 7714 | Kathryn Graddy,Chanont Banternghansa. DP7136 The Impact of the Droit de Suite in the UK: An Empirical Analysis. 2009. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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